Factsheet for measure
IE-1949-1/2483
– measures in Ireland
IDA Ireland
IDA Ireland
Background information
IDA Ireland
(formerly known as the Industrial Development Authority) was founded in 1949 and it is a government agency that provides information and statistical data on key business sectors and locations within Ireland. It also provides assistance in setting up a business in Ireland.
IDA Ireland is funded by the national government.
Content of measure
The body introduces potential investors to local industry, government, service providers and research institutions. It offers international investors advice regarding property in Ireland, with the aim to attracting them to Ireland.
IDA Ireland works with companies operating in high end manufacturing, global services (including financial services) and research, and development and innovation. The key sectors within these areas for investment are: life sciences (pharmaceutical, biopharmaceutical and medical technologies); information communications technology (ICT); engineering; professional services; digital media, consumer brands; and international services.
Examples of IDA Ireland clients include : Essentire, Intel, Dell, Indeed, Microsoft, Pramerica, Medtronic, Google, Prometric, IBM, Amazon, TikTok, Zendesk, WuXi, Stryker and Qualtrics.
Use of measure
The IDA Ireland 2023 annual report shows that IDA Ireland client companies had direct employment of 300,583, down slightly (-0.3%) on the 2022 statistics.
IDA has the following indicators of success for 2023:
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Total of Investments Approved: 248
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Number of Greenfield Projects: 83
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Number of Expansion Projects: 67
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Number of Research, Development & Innovation Projects: 46
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Investment in Research, Development & Innovation Projects: €1.4 billion
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% of investments that located outside Dublin: 53%
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% of jobs approved outside Dublin: 56%
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Total R&D in-house expenditure: €27.2 billion
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Average salary in IDA-invested employments: €65,283
IDA Ireland has a consistent record in attracting foreign direct investment (FDI) to Ireland.
It is increasingly focusing its efforts on attracting business to parts of Ireland outside of Dublin (i.e. more a regional focus)
However, Ireland is considered to be too reliant on foreign direct investment (FDI), on which the work of FDI Ireland is largely concentrated.
Over 70% of direct employment amongst IDA client companies in Ireland is from USA-owned companies, which, in the context of potential increased repatriation of American businesses, would suggest vulnerability.
In 2022, it was noted that funding approval by IDA Ireland was double the level of drawdown, suggesting a budgetary management imbalance
Target groups
Actors and funding
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Actors
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Funding
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National government
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National funds
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Social partners
Social partners' role in
designing the measure
and form of involvement:
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Trade unions
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Employers' organisations
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Role
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No involvement as case not in social partner domain
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No involvement as case not in social partner domain
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|
Form
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Not applicable
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Not applicable
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Social partners' role in the
implementation, monitoring and assessment phase:
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No involvement
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Main level of involvement: Unknown
Involvement
No involvement
Views and reactions
There are no espoused views of the social partners on the work of IDA Ireland. During company restructurings, the paths of the IDA and trade unions might cross but they generally work separately.
Sources
